Government receives 4,000 emails on black money in 72 hours


The government’s email address for black money tipoffs has been flooded with 4,000 messages since Friday, when blackmoneyinfo@incometax. gov.in was made public. “We are getting a good response,” a finance ministry official told ET, Further the Finance Department also gets intelligence reports from various other module too. That’s in addition to vast amounts of data flowing… Read More

FORMS OF BLACK MONEY – CASH – GOLD AND PRECIOUS METALS – PROPERTIES – STOCKS AND SHARES – MONEY STASHED ABROAD BY POLITICIANS, BUSINESSMEN, SMUGGLERS AND TERRORISTS


An expert`s view on demonetization. Which are the other forms of Black Money? Gold, Precious Metals, Properties, Shares, Stocks and stashed abroad in tax heavens. Which are the major tax heavens in the world? Delaware (U.S), Luxembourg, Switzerland, Cayman Islands, the U.K. (City of London), Ireland, Bermuda, Singapore, Belgium and Hong Kong. An expert on… Read More

BUYING A PROPERTY WITH CASH – TRANSACTIONS ABOVE RS.20,000/- MUST BE ONLY THROUGH CHEQUES AND DEMAND DRAFTS.


THE GOVERNMENT HAS FINALLY COME OUT WITH A NOTIFICATION RESTRICTING THE TRANSACTIONS IN THE PROPERTY IN TERMS OF CASH BY PERMITTING IT TO RS.20,000/-. ANY AMOUNT PAYABLE OR TO BE PAID MUST BE ONLY THROUGH AN ACCOUNT PAYEE CHEQUE/DEMAND DRAFT/PAY ORDER/BANK TRANSFER/RTGS. THE TRANSACTION IN CASH INVOLVES HIGH RISK AND THE BUYER WILL BE AT… Read More

CONVERSION OF BLACK MONEY/ASSETS STASHED ABROAD WITHIN 30-09-2015 AND GET AMNESTY – A NEW SCHEME TO BRING THE BLACK MONEY ABROAD !!


Dates For Compliance Window Under Black Money Act Notified; 30th September, 2015 is the date on or before which A Person may make a Declaration in respect of an Undisclosed Asset Located Outside India Under the Compliance Provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015; Last Date… Read More

BLACK MONEY BILL IN THE CURRENT SESSION – JAITLEY – NO CASH TRANSACTION IN PROPERTY MATTERS ABOVE RS20,000/-


BUDGET HIGHLIGHTS ON CURBING THE BLACK MONEY MENACE BY THE FINANCE MINISTER The Union Finance Minister Shri Arun Jaitley has said that a Bill to enact a new law to deal with black money is to be introduced in the current session of the Parliament. In his Budget Speech in the Lok Sabha here today,… Read More

Money laundering by Multinational Banks – Allegations


A sting operation conducted by an online magazine Cobrapost across various branches of private banks has revealed how bank employees are accepting black money from customers to convert them into white money. Cobrapost Editor has insisted that leading private banks like HDFC Bank, ICICI Bank and Axis Bank are involved in this money laundering. The Cobrapost report said its… Read More

ILLICIT OUTFLOW OF CAPITAL FROM INDIA


India is ranked as the decade’s 8th largest victim of illicit capital flight and the Indian economy suffered $1.6 billion in illicit financial outflows in 2010, capping-off a decade in which it experienced black money losses of $123 billion, according to a new report by Global Financial Integrity, a Washington-based research and advocacy organization. The… Read More